If you’ve gained a vast pool of knowledge from your jobs over the years, then you can put those skills to work for you by starting your own handyman business.
There’s no doubt that you’ve considered ditching the boss and steady paycheck for something more fulfilling and exciting at least once in your life; if you’re at the point in your life where your experience has matured enough to handle your own business, then starting a company could be easier than you think.
Let’s examine some topics of concern for the budding entrepreneur, and their strengths and weaknesses.
Making it Official
Before you gas up the truck and load the tools up, you must first take care of some legal and logistical matters. As a handyman for hire, you may be held liable under state and local regulations regarding your chosen field. You may get away with operating outside of the law for a while, but eventually, you will get caught and suffer the consequences.
To avoid any potentially devastating event from shutting you down for good, protect yourself by adhering to all laws that govern your occupation. Ignorance is not considered a good excuse for breaking the law, so be sure you’re in compliance.
Another consideration before stepping foot on your first client’s premise, liability insurance should never be ignored if you expect to be in business for long. Contrary to what you may think at first, liability plans are usually quite affordable for most small businesses.
In the event of damage or catastrophe caused by you while working, your insurance policy will step in to protect against possible financial ruin due to the ensuing legal case. Your handyman insurance will also give customers peace of mind in knowing that a licensed and insured professional is working for them.
You Set the Schedule
One of the greatest liberties of being your own boss is setting your own schedule, taking time off for relaxation, and spending time with friends and family. With a healthy pool of clientele needing plenty of work to get done, you can choose what you’re willing to do and when.
When work is plentiful, you will have the ability to cherry-pick the jobs that work best for your agenda and preference. If you know a certain time of year will be slow, then slate that time off and work extra hard while jobs are abundant.
Work may not always be coming at you as quickly as you would like. In times of desperation – especially for fledgling enterprises – you may have to resort to taking any opportunity you can to survive.
If you’re struggling to make ends meet, then your clientele will ultimately have control of your calendar. Hard work and determination can help you weather the lean times and will be necessary for your business to thrive.
Finding the Right Niche
Hopefully, you’re going into the handyman or contracting game with a solid base of expertise and skills under your belt.
The entire weight of your flaws and inexperience will be borne by you if you choose to use your client’s property as your testing grounds; for this reason, it isn’t advised to branch out into an unknown field. Stick to what you know: your knowledge will be absolutely critical for the prosperity of your business.
Picking the right handyman field when starting your venture will determine many aspects of your business and shape your path going forward.
The amount of overhead you’ll face, and the availability of work, are two important factors to take into consideration when choosing a field in which you feel comfortable working. You may have to do jobs that you don’t particularly care for to make ends meet while doing the work you’re more passionate about when the opportunity arises.
Tools of the Trade
If you’ve been doing the work for a while under a banner owned by someone else, there’s a good possibility you possess all or much of the equipment you need to start your own business.
The less money spent equipping yourself for the task ahead, the more cash you will have to invest in more important areas like advertising, insurance, and administrative fees. Tools and vehicles acquired over the length of a career can go a long way in getting you ready to start taking your very own clients.
Those who specialize in high-precision fields should be well prepared for the large overhead their machinery could cost them. Special tools made for high-value jobs can run into the hundreds of thousands easily – millions even for very specialized equipment. You may be working for a very long time before that critical tool starts turning a profit, and even longer if it requires frequent and costly maintenance.
There’s a lot to consider before making the plunge into running your own handyman enterprise. Getting your business off the ground can prove to be difficult, but don’t be discouraged. You can make it work if you’re determined enough to succeed.